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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Sam and his brother Bud go into business together and purchase outright ______________.
(a) An old Kmart store in Ruskin Heights.
(b) An old Meijer store in Ruskin Heights.
(c) An old Ben Franklin store in Ruskin Heights.
(d) An old Woolworth store in Ruskin Heights.

2. This period of time dictates a __________ period of growth for Wal-Mart.
(a) Large.
(b) Decent.
(c) Small.
(d) Minimal.

3. On what was Sam too focused?
(a) Himself.
(b) His executives.
(c) Being competitive.
(d) His managers.

4. Sam believes that he was over-blessed with the traits of ____________.
(a) Love and kindness.
(b) Ambition and drive.
(c) Understanding and empathy.
(d) Pride and jealousy.

5. Now that Sam is out of debt, he feels he can really concentrate on _________.
(a) Changing the face of Wal-Mart.
(b) Executing his strategy for running large discount stores.
(c) Spending time with his family.
(d) Considering retirement.

6. Sam finds a store in Bentonville, but almost does not get the business. Why?
(a) He cannot afford to buy the store.
(b) Helen does not want him to buy it.
(c) The two widowed owners almost refuse to sell it.
(d) He does not want to move to Bentonville.

7. For a variety of reasons, Rob convinces Sam to do what with his debt?
(a) Split his debt into a few small personal loans.
(b) Reconsolidate it into one large loan for the business.
(c) Reconsolidate it into one large personal loan.
(d) Split his debt into many small loans for the business.

8. No matter how efficient or advanced their distribution center is or how great their technology might be, _______________are the real key to Wal-Mart's success.
(a) The managers.
(b) The Walton family members.
(c) The associates.
(d) The executives.

9. Why does Sam buy a little bank in Bentonville?
(a) In order to better understand the lending process and banking industry overall.
(b) He wants to control his money.
(c) In order to lend money to himself.
(d) In order to earn money for Wal-Mart.

10. Now Wal-Mart has a profit-sharing policy for their employees that is currently ___________ at the time of publication.
(a) $1.8 trillion.
(b) $1.8 billion.
(c) $18 billion.
(d) $1.8 million.

11. What do Sam and Bob have Sam's son Rob do for them?
(a) Look into the legal aspects of going public and issuing stock shares to the public.
(b) Sue another company, so they can pay off their debts.
(c) Find a good lawyer to look into the legal aspects of going public and issuing stock shares to the public.
(d) Find a way to avoid paying taxes, so they can start to get out of debt.

12. What have Sam and his employees mastered?
(a) Building the same stores all over the country.
(b) The art of deception.
(c) Convincing towns to support a Wal-Mart.
(d) Many stores and the art of doing business with low expenses and low prices.

13. What do the Walton kids all have to do?
(a) Study business.
(b) Study.
(c) Play instruments.
(d) Jobs.

14. To encourage family togetherness, what does Sam do?
(a) The family must be home for dinner every night.
(b) He plans family vacations every weekend.
(c) He is his sons' Boy Scout leader.
(d) His family must not go anywhere without him.

15. What is Ferold Arend's position prior to coming to Wal-Mart?
(a) He is president of a Midwest variety chain store.
(b) He is head of merchandise for the whole Midwest for a variety chain store.
(c) He is the owner of a Midwest variety chain store.
(d) He is a cashier at a Midwest variety chain store.

Short Answer Questions

1. Is Sam's deal with Alice unusual?

2. How do the children have just as high a stake in the family business as their parents?

3. Sam starts to hear about discounting companies. He knows that discounting is the way of the future but is fully immersed in what?

4. Phil gets a great deal on a laundry detergent like Tide, and has 18 cases sent to his store and creates the world's largest display of detergents, stacking them almost __________ feet high?

5. With what does Sam not want to deal that plague stores in bigger cities?

(see the answer keys)

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